The Research Of Financial Strategy Based On Value Chain

With the progress of the modern science and technology and swift and violent development of productivity, the global competition is fierce day by day and the trend of the economic globalization is irresistible, in addition, the enormous change happened in politics, economy and culture fields, all of which have offered rich soil for the development of the management ideology. In such cases, the conception of "Value Chain" arose, which proposed at first by the management master Michael 'Potter in his book named "Competition Advantages" . Later soon, the conception of the value chain and management patterns based on it were introduced into China, which have been applied to some respects of management and offered the theoretical foundation for reform and opening to the outside world as well as the competition advantage of enterprises of our country.The research of introducing the value chain into financial accounting field is just risen to come, and our country has raised a research climax about the value chain accountancy at the beginning of 2004. While, as known to the author, the research about the value chain combining with financial strategy made by the academia of our country almost haven' t been carried on.It is necessary to study the financial strategy based on the value chain. Today when the economic globalization and knowledge economy is developing at full speed, the theoretical foundation and guiding principle to the economic activity on which people observe the economicdevelopments based have all already changed enormously, and the localization of the financial management objectives has already developed from the maximum of the enterprise profit into that of the enterprise value. We should organically combine the value chain management with the strategic management, tactics management and information management for stigma with value to the research of the financial strategy, and we also should transfer the sight to value and activity around it and lock the management objectives on each link of the value chain. In view of those mentioned above, the author think it is of great theoretical and practical meanings to study the value chain and financial strategy.In this paper, the author proceed with a summary of the financial strategy, introduce nine kinds of activities of what the value chain includes into the financial strategy and emphatically discuss each concrete strategic method based on the value chain, which includes in detail :(1)having studied the supplier chosen strategy based on the value chain and proposed a supplier evaluation system;(2)having studied the importance of the stock strategy based on the value chain with Du Pont' s analytic approach, then studied the concrete choosing methods for the stock strategy; (3)having studied the account receivable management strategy to the downstream customer of the value chain;(4)having analyseda special strategy based on the value chain----Wrap-up-outside strategythat can contribute to promoting the enterprises' key competitiveness; ?having studied the up-and-down-stream customer strategy and horizontal and integrating strategies of them based on the value chain;?having studied the financial strategy of broad sense based on the value chain ----Tax Strategy.